Corn Export Inspections Perk Up

Posted on 11/26/2018 12:16 PM

USDA’s Weekly Grain Export Inspections

Week Ended Nov. 22, 2018

Corn

Actual (MT)

1,117,580

Expectations (MT)

700,000-1,100,000

Comments

Inspections were up 271,623 MT from the week prior, and were just above the top end of the pre-report range of estimates.  Inspections are running 79.9% ahead of year-ago, versus 79.8% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.450 billion bu. is up 0.5% from the previous marketing year.

Wheat

Actual (MT)

252,489

Expectations (MT)

350,000-600,000

Comments

Export inspections were down 256,776 MT from last week and the tally was below the bottom end of expectations. Inspections are running 18.6% behind the 2017-18 marketing year, versus 18.4% behind last week. USDA projects exports in 2018-19 at 1.025 billion bu., up 13.8% from the previous marketing year.

Soybeans

Actual (MT)

1,105,229

Expectations (MT)

600,000-1,200,000

Comments

Export inspections were up 35,104 MT from last week and at the top end of the range of pre-report expectations. Inspections for 2018-19 are running 42.3% behind year-ago, compared with 42.9% behind last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

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